OPEN-SOURCE SCRIPT
NASDAQ Market Open Breakout Strategy
Establishes a range using the 5 candles before market open (9:30 AM ET)
Enters a long position if price breaks above the pre-market high
Enters a short position if price breaks below the pre-market low
Takes profit at 30 points in either direction
Only trades during regular market hours (9:30 AM - 4:00 PM ET)
Enters a long position if price breaks above the pre-market high
Enters a short position if price breaks below the pre-market low
Takes profit at 30 points in either direction
Only trades during regular market hours (9:30 AM - 4:00 PM ET)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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